Rockefeller Foundation Commits to Funding Coalition Staffing and Resources to Make Infrastructure Funding a National Priority

Mayor Michael R. Bloomberg today joined with Pennsylvania
Governor Edward G. Rendell and California Governor Arnold Schwarzenegger to
announce the creation of Building America's Future, a non-partisan coalition for
federal infrastructure investment. It is envisioned that the coalition will be
comprised of state and local elected officials from around the nation and will
become a repository of best practices on infrastructure funding issues. In the
short-term, the coalition will work with the presidential candidates and the
platform committees of the national political parties to ensure that the next
president understands the enormity of the infrastructure crisis and is committed
to increasing federal funding for infrastructure. The Rockefeller Foundation has
committed to provide funding for coalition staffing and resources.

"We can all look at recent headlines about levees in New
Orleans, air traffic congestion in the Northeast or the bridge collapse in
Minnesota to realize that our nation's infrastructure is in need of serious
attention," said Mayor Bloomberg. "But those examples only scratch the surface
of the problem. The funding needs to maintain our existing infrastructure, and
to improve and expand infrastructure as our nation continues to grow, just
hasn't been the priority it needs to be. Today, I'm joining with Governor
Rendell and Governor Schwarzenegger to create a coalition that will focus
attention on our shortfalls in a non-partisan way and will work to get the
Federal government to make this a top priority."

"In the past 20 years, state and local governments have
been forced to pay more and more of the cost for infrastructure repairs and
expansion," said Governor Rendell. "Three-quarters of our nation's
infrastructure spending is by state and local governments. In the past five
years Pennsylvania has increased state funding for bridge repairs by 300
percent, yet the number of structurally deficient bridges has increased. Our
country can't do it without federal leadership. America's infrastructure crisis
is far broader than bridges and roads. The infrastructure crisis includes the
basic necessities communities and businesses need to survive: schools,
waterlines, wastewater treatment systems, dams, flood mitigation, hospitals,
energy, aviation, rail lines, and ports. This is an issue that crosses party
lines and we need significant federal investments now to ensure the safety of
our citizens and economic prosperity of our nation."

"America needs $1.6 trillion worth of infrastructure over
the next five years yet federal investment has been cut in half as a percent of
gross domestic product since 1987," said Governor Schwarzenegger. "This is
disastrous because without adequate infrastructure to quickly and safely move
goods and people our economy and our traffic will stop dead in its tracks. I
could not be happier to join Governor Rendell and Mayor Bloomberg to shine an
even brighter spotlight on this critical issue."

"For almost a century, the Rockefeller Foundation has
supported breakthrough solutions to society's most pressing problems, and one of
the most urgent challenges today is our aging and inadequate transportation
infrastructure," said Judith Rodin, President of the Rockefeller Foundation.
"This coalition represents another mile-marker on the road to policies that
protect the environment, keep citizens safe, and expand access and opportunity
to underserved communities. We're proud to play a role in this crucial endeavor,
and we congratulate Mayor Bloomberg, Governor Rendell, and Governor
Schwarzenegger for their leadership on this critical issue."

The American Society of Civil Engineers (ASCE) graded
American infrastructure in 2005 and the results should be a wake-up call to
decision makers in the federal government. In each category ASCE found
deteriorating conditions approaching dangerous levels of disrepair, with needs
outpacing allocated funds. The ASCE estimated that the infrastructure funding
shortfall was in the neighborhood of $1.6 trillion over a five year period.

Building America's Future will be made up of elected
officials throughout the country serving in elected executive and legislative
roles at the state and local levels of government. It will also work closely
with associations that represent these officials, like the National Governors
Association, the US Conference of Mayors, the National League of Cities, and the
National Association of County Officials, the National Conference of State
Legislators, the Council of State Governments. In structure the Coalition will
also resemble a think tank, performing analysis and offering opinions on
emerging infrastructure issues, including federal, state and local legislative
proposals.

According to the Congressional Budget Office, in
inflation-adjusted dollar terms, annual public spending on infrastructure has
risen from $105 billion in 1956 to just over $312 billion in 2004, an average of
2.3 percent per year. However, as a share of total non-defense federal
expenditures, it has actually declined. Between 1956 and 1966, infrastructure
spending as a share of total non-defense federal expenditures was approximately
10 percent. Since then, it has steadily declined, so that, for the last twenty
years, federal spending on infrastructure has averaged 3.5 to 4 percent of total
non-defense expenditures.